File 2014 Taxes ASAP!
Any household that received advanced premium tax credits (APTCs) in 2014 must file a complete 2014 tax return, including Forms 1095A and 8962, as soon as possible. Failure to do so may result in the household losing eligibility for APTCs for 2016 coverage.
This message is very important for people who:
- didn’t file 2014 taxes;
- got an extension on 2014 taxes and haven’t filed yet; or
- filed 2014 taxes, but didn’t include Form 8962.
As for September 2015, there were an 1.8 million Americans affected by this issue.
An “infographic” on the issue from the RI Health Coverage Project is available here – Infographic – APTCs and 2014 Tax Filing.
Anyone with questions (consumers or professionals) can call RIREACH at 855-747-3224.
The IRS has not yet been clear about the final deadline for 2014 tax filing to ensure that 2016 enrollment works smoothly. They are merely advising all such households to file their returns as quickly as possible.
The IRS should have sent one of three notices to affected households. Those notices were entitled Letter 5591, Letter 5591A, and Letter 5596. More information on those IRS notices can be found at:
- Understanding Your Letter 5591;
- Understanding Your Letter 5591A; and
- Understanding Your Letter 5596.
The Resource Hub will provide updates on this situation as more information becomes available.
More Resources:
- IRS Form 8962 (for reconciling APTCs)
- IRS Form 8962 instructions
- Understanding Your Letter 5591
- Understanding Your Letter 5591A
- Understanding Your Letter 5596
- 45 C.F.R. § 155.305(f)(4) (federal regulation prohibiting award of APTCs to households that have not yet filed tax return reconciling APTCs from two years prior)
Author: Sam
Date: September 14, 2015